SAA hands Public Enterprises Minister its Long-term Turnaround Strategy
South African Airways (SAA) is pleased to announce that it has submitted its Long-term Turnaround Strategy to the Public Enterprises Minister, Malusi Gigaba. The handover was made yesterday to the Minister by Ms. Dudu Myeni, the acting Chairperson of the SAA Board of Directors on behalf of the airline.
The submission of the strategy is in line with Minister Gigaba’s directive issued on 15 October 2012 during the airline’s Annual General Meeting. Minister Gigaba indicated that SAA must develop and submit a long term turnaround strategy aimed at improving the airline’s financial sustainability and operational efficiency.
SAA considers the submission of this strategy on time to its Shareholder as a clear indication of its commitment to ensure that its implementation is accompanied by the measurable deliverables within specific time frames.
“This is the first, all-encompassing strategy for the airline and a defining moment in SAA’s 79 years of existence. The strategy will be followed by a comprehensive implementation plan aimed at ensuring successful delivery of its objectives, once reviewed by the Department of Public Enterprises” said Ms. Myeni.
There will be a three-phase implementation approach of the strategy with continuous and cyclical monitoring and review over a twenty year period. There will be specific and measurable outcomes in each of the three implementation phases (short, medium and long term). Consequently, the impact will be felt from year one of the implementation whilst other interventions will take place in the medium and long term phases of the strategy.
“One of the key elements of the strategy is increased focus and emphasis on governance and accountability. These will go a long way in restoring SAA’s reputation in the global markets and among its stakeholders,” Myeni added.
Communication of the salient details of the strategy will be shared with the media and the public at large once the Department of Public Enterprises has had the opportunity to digest its contents and endorsement received from the National Treasury.